Financial Services Industry

Brand-based attacks have expanded beyond phishing—protection strategies need to follow suit

Every day, more than half of Internet users receive at least one phishing email with 9.2 million consumers having been duped into submitting personal data from phishing scams in 2015. Phishing puts your customers’ financial assets at risk – as well as your company’s brand and reputation.

Today, brand-based attacks are instigated with a steadily increasing level of sophistication from consumer phishing to spear phishing and business email compromise scams, malware and more. They are also distributed through a growing number of mechanisms or channels, including social media and mobile. In addition to the now-familiar email inbox attacks, financial institutions need to monitor search engines, mobile app stores, blogs and social networking sites for links that divert consumers to fraudulent sites.

These attacks pose a significant threat to customer identity theft, which in turn stalls the adoption of online transactions. Meanwhile, brand reputation and consumer trust suffer.

Fortunately, financial companies can protect their brands, revenues and customers by taking proactive, holistic action against the fraudsters and scammers. MarkMonitor® can help.

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